Wednesday, January 26, 2022

Capstone Green Energy (CGRN)
New contract keeps Capstone on track to meet rental goal. Example of more to come?

Capstone Green Energy Corp is the producer of low-emission microturbine systems.The company develops, manufactures, markets and services microturbine technology solutions for use in stationary distributed power generation applications. Capstone Turbine’s products include onboard generation for hybrid electric vehicles; conversion of oil field and biomass waste gases into electricity; combined heat, power, and chilling solutions; capacity addition; and standby power.

Michael Heim, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Capstone signed a 4 MW two-year, EAAS contract with a new customer in the cryptocurrency space. Recall that Capstone is moving toward increased Energy As A Service (EAAS) sales and is seeking to increase equipment rentals to 21 megawatts by this spring from a September level of 13.1 MW. Today’s announcement places the company on track to meet its goal.


The new customer is in a fast growing space that plays off of Capstone’s experience with exploration and production companies.  The customer is located on an oil and gas well and will use waste gas emissions to perform large volume, blockchain and cryptocurrency mining. Capstone has a history of serving exploration and production customers. We believe the use of small generators using gas waste to …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Wednesday, January 26, 2022

Indonesia Energy Corp (INDO)
Indo closes on a $5 million private placement to support drilling

Indonesia Energy Corp Ltd is an oil and gas exploration and production company focused on Indonesia. It holds two oil and gas assets through its subsidiaries in Indonesia: one producing block (the Kruh Block) and one exploration block (the Citarum Block). The Kruh Block is located to the northwest of Pendopo, Pali, South Sumatra. The Citarum Block is located to the south of Jakarta.

Michael Heim, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Indonesia Energy announced the closing of the initial $5.0 million tranche of a total anticipated $7.0 million private placement. The sale of a senior convertible note with a 6.0% discount and an 18-month maturity includes a five year warrant to purchase shares at an exercise price of $6.00 per share. Proceeds to the company were $4.7 million after expenses.


Indo’s cash position has slipped due to expenditures and production delays.  Indo’s cash position, which was as high as $16 million after its initial public offering, had fallen to $6 million at the end of June (latest reported financial numbers) due to normal operating costs and the drilling of two wells in the Kruh Block. The company had hoped to use cash flow from new wells to fund additional …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Wednesday, January 26, 2022

InPlay Oil (IPOOF)(IPO:CA)
InPlay was the third best performer in the OTCQX 50 2022 list

As of April 24, 2020, Noble Capital Markets research on InPlay Oil is published under ticker symbols (IPOOF and IPO:CA). The price target is in USD and based on ticker symbol IPOOF. Research reports dated prior to April 24, 2020 may not follow these guidelines and could account for a variance in the price target. InPlay Oil is a junior oil and gas exploration and production company with operations in Alberta focused on light oil production. The company operates long-lived, low-decline properties with drilling development and enhanced oil recovery potential as well as undeveloped lands with exploration possibilities. The common shares of InPlay trade on the Toronto Stock Exchange under the symbol IPO and the OTCQZ Exchange under the symbol IPOOF.

Michael Heim, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

IPOOF ranks high in the annual OTCQX survey. The survey ranks over 11,000 stocks based on an equal weight of stock performance and average daily dollar volume growth in 2021. The shares of IPOOF, which rose 254% in 2021, continued their climb so far in 2022 reaching a peak of $2.69 or 937% above the starting point for 2021. The shares have fallen a bit in the last few days along with the overall market, but still remain near peak levels. Average daily volumes, which were below 5,000 shares at the beginning of 2021 have crossed 100,000 several of the last trading days.


There are many reasons for the share strength.  Certainly higher oil and gas prices have helped the shares. However, we believe the successful drilling of Cardium wells in the Pembina play was the primary reason for the share strength as management raised production and sash flow guidance several times. We are especially excited about a tuck-in acquisition that the company made in the fall that …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Indonesia Energy To Commence Drilling of Two Back-To-Back New Wells Within 30 Days and a Third by Mid-Year

Research, News, and Market Data on Indonesia Energy

 

New Production Anticipated to Bring IEC to Cash Flow Positive Operations

JAKARTA, INDONESIA and DANVILLE, CA / ACCESSWIRE / January 26, 2022 / Indonesia Energy Corporation Limited (NYSE American:INDO) (IEC), an oil and gas exploration and production company focused on Indonesia, today provided an update on its 2022 drilling plans by announcing that it expects to commence drilling of its next two (2) new wells at IEC’s 63,000-acre Kruh Block within 30 days. Additionally; IEC plans to commence drilling of a third new well at Kruh Block before the end of the second quarter.

Drilling operations for these three new wells (named “Kruh 27”, “Kruh 28” and “Kruh 29”) are being funded from the net proceeds of IEC’s recently announced new institutional investor financing.

Last month, IEC announced that its recently completed “Kruh 26” well increased its daily oil production rate by over 50%.

Assuming the drilling campaigns for Kruh 27 and Kruh 28 yield producing wells, IEC’s production target is to be producing approximately 450 barrels of oils per day after completion of Kruh 27 and Kruh 28. Based on current oil prices, this production is anticipated to result in IEC having cash flow positive operations. The addition of a producing Kruh 29 well would enhance IEC’s cash flow from operations later this year.

The new wells will cost approximately $1.5 million each to drill and complete (matching IEC’s planned drilling budget). Based on the terms of IEC’s contract with the Indonesian government and an assumed oil price of $80 per barrel, these wells are each expected to generate approximately $1.5 million in net revenue in their first year, which is enough to recover the cost of drilling the wells.

Mr. Frank Ingriselli, IEC’s President, commented “We are excited that our recent financing enables us to commence drilling next month and to aggressively move our company towards a potential cash flow positive position, setting the stage for further drilling and growth for our company in 2022 and beyond. We believe Kruh Block is a world class asset that should significantly grow our cash flow as we drill additional wells and seek to maximize returns on our investments and grow shareholder value.”

About Indonesia Energy Corporation Limited
Indonesia Energy Corporation Limited (NYSE American:INDO) is a publicly traded energy company engaged in the acquisition and development of strategic, high growth energy projects in Indonesia. IEC’s principal assets are its Kruh Block (63,000 acres) located onshore on the Island of Sumatra in Indonesia and its Citarum Block (1,000,000 acres) located onshore on the Island of Java in Indonesia. IEC is headquartered in Jakarta, Indonesia and has a representative office in Danville, California. For more information on IEC, please visit www.indo-energy.com.

Cautionary Statement Regarding Forward-Looking Statements
All statements in this press release of Indonesia Energy Corporation Limited (“IEC”) and its representatives and partners that are not based on historical fact are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Acts”). In particular, when used in the preceding discussion, the words “estimates,” “believes,” “hopes,” “expects,” “intends,” “on-track”, “plans,” “anticipates,” or “may,” and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Acts and are subject to the safe harbor created by the Acts. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. While management has based any forward-looking statements contained herein on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties, and other factors, many of which are outside of the IEC’s control, that could cause actual results (including, without limitation, the future prices for oil and the anticipated results of IEC’s drilling and production activities and the impact of such activities on IEC’s results of operations as descried herein) to materially and adversely differ from such statements. Such risks, uncertainties, and other factors include, but are not necessarily limited to, those set forth in the Risk Factors section of the Company’s annual report on Form 20-F for the fiscal year ended December 31, 2020, filed on May 18, 2021, with the Securities and Exchange Commission (SEC). Copies are of such documents are available on the SEC’s website, www.sec.gov. IEC undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Company Contact:
Frank C. Ingriselli
President, Indonesia Energy Corporation Limited
Frank.Ingriselli@Indo-Energy.com

SOURCE: Indonesia Energy Corporation Limited

Indonesia Energy To Commence Drilling of Two Back-To-Back New Wells Within 30 Days and a Third by Mid-Year

Research, News, and Market Data on Indonesia Energy

 

New Production Anticipated to Bring IEC to Cash Flow Positive Operations

JAKARTA, INDONESIA and DANVILLE, CA / ACCESSWIRE / January 26, 2022 / Indonesia Energy Corporation Limited (NYSE American:INDO) (IEC), an oil and gas exploration and production company focused on Indonesia, today provided an update on its 2022 drilling plans by announcing that it expects to commence drilling of its next two (2) new wells at IEC’s 63,000-acre Kruh Block within 30 days. Additionally; IEC plans to commence drilling of a third new well at Kruh Block before the end of the second quarter.

Drilling operations for these three new wells (named “Kruh 27”, “Kruh 28” and “Kruh 29”) are being funded from the net proceeds of IEC’s recently announced new institutional investor financing.

Last month, IEC announced that its recently completed “Kruh 26” well increased its daily oil production rate by over 50%.

Assuming the drilling campaigns for Kruh 27 and Kruh 28 yield producing wells, IEC’s production target is to be producing approximately 450 barrels of oils per day after completion of Kruh 27 and Kruh 28. Based on current oil prices, this production is anticipated to result in IEC having cash flow positive operations. The addition of a producing Kruh 29 well would enhance IEC’s cash flow from operations later this year.

The new wells will cost approximately $1.5 million each to drill and complete (matching IEC’s planned drilling budget). Based on the terms of IEC’s contract with the Indonesian government and an assumed oil price of $80 per barrel, these wells are each expected to generate approximately $1.5 million in net revenue in their first year, which is enough to recover the cost of drilling the wells.

Mr. Frank Ingriselli, IEC’s President, commented “We are excited that our recent financing enables us to commence drilling next month and to aggressively move our company towards a potential cash flow positive position, setting the stage for further drilling and growth for our company in 2022 and beyond. We believe Kruh Block is a world class asset that should significantly grow our cash flow as we drill additional wells and seek to maximize returns on our investments and grow shareholder value.”

About Indonesia Energy Corporation Limited
Indonesia Energy Corporation Limited (NYSE American:INDO) is a publicly traded energy company engaged in the acquisition and development of strategic, high growth energy projects in Indonesia. IEC’s principal assets are its Kruh Block (63,000 acres) located onshore on the Island of Sumatra in Indonesia and its Citarum Block (1,000,000 acres) located onshore on the Island of Java in Indonesia. IEC is headquartered in Jakarta, Indonesia and has a representative office in Danville, California. For more information on IEC, please visit www.indo-energy.com.

Cautionary Statement Regarding Forward-Looking Statements
All statements in this press release of Indonesia Energy Corporation Limited (“IEC”) and its representatives and partners that are not based on historical fact are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Acts”). In particular, when used in the preceding discussion, the words “estimates,” “believes,” “hopes,” “expects,” “intends,” “on-track”, “plans,” “anticipates,” or “may,” and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Acts and are subject to the safe harbor created by the Acts. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. While management has based any forward-looking statements contained herein on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties, and other factors, many of which are outside of the IEC’s control, that could cause actual results (including, without limitation, the future prices for oil and the anticipated results of IEC’s drilling and production activities and the impact of such activities on IEC’s results of operations as descried herein) to materially and adversely differ from such statements. Such risks, uncertainties, and other factors include, but are not necessarily limited to, those set forth in the Risk Factors section of the Company’s annual report on Form 20-F for the fiscal year ended December 31, 2020, filed on May 18, 2021, with the Securities and Exchange Commission (SEC). Copies are of such documents are available on the SEC’s website, www.sec.gov. IEC undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Company Contact:
Frank C. Ingriselli
President, Indonesia Energy Corporation Limited
Frank.Ingriselli@Indo-Energy.com

SOURCE: Indonesia Energy Corporation Limited

Wednesday, January 26, 2022

Capstone Green Energy (CGRN)
New contract keeps Capstone on track to meet rental goal. Example of more to come?

Capstone Green Energy Corp is the producer of low-emission microturbine systems.The company develops, manufactures, markets and services microturbine technology solutions for use in stationary distributed power generation applications. Capstone Turbine’s products include onboard generation for hybrid electric vehicles; conversion of oil field and biomass waste gases into electricity; combined heat, power, and chilling solutions; capacity addition; and standby power.

Michael Heim, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Capstone signed a 4 MW two-year, EAAS contract with a new customer in the cryptocurrency space. Recall that Capstone is moving toward increased Energy As A Service (EAAS) sales and is seeking to increase equipment rentals to 21 megawatts by this spring from a September level of 13.1 MW. Today’s announcement places the company on track to meet its goal.


The new customer is in a fast growing space that plays off of Capstone’s experience with exploration and production companies.  The customer is located on an oil and gas well and will use waste gas emissions to perform large volume, blockchain and cryptocurrency mining. Capstone has a history of serving exploration and production customers. We believe the use of small generators using gas waste to …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

 

Capstone Green Energy Announces New 4 MW, Two-Year EaaS Contract – Plans to Expand Rental Fleet to 21.1 MW by March 31, 2022

 

Remote Data Center Located on Oil & Gas Well Handles Cryptocurrency Mining

VAN NUYS, Calif.–(BUSINESS WIRE)– Capstone Green Energy Corporation (www.CapstoneGreenEnergy.com) (NASDAQ: CGRN) (“Capstone,” the “Company,” “we” or “us”), a global leader in carbon reduction and on-site resilient green energy as a service (EaaS) solutions, announced today that it has entered into a 4 megawatt (MW), two-year, long-term rental contract with a new end-use customer in the cryptocurrency mining space. The new two-year contract represents another 4 MW of clean Energy as a Service (EaaS) rental systems, and continues Capstone Green Energy’s expansion of its current long-term rental fleet to 21.1 MW by March 31, 2022.

“Capstone continues to expand its EaaS business, including its long-term rental program. This is an important element in achieving our near-term profitability goals as rentals generate higher contribution margin rates than traditional product sales,” said Darren Jamison, President and Chief Executive Officer of Capstone Green Energy. “With this new 4 MW, long-term contract and the existing pipeline of rental projects, we expect to reach our goal of a 21.1 MW rental fleet by March 31, 2022,” concluded Mr. Jamison.

Located on an oil and gas well, this remote data center handles large volume, blockchain and cryptocurrency mining. The customer approached Capstone looking for an innovative way to take advantage of their existing on-site associated production gas, a byproduct that would otherwise be released into the atmosphere.

Because Capstone microturbines are designed to offer fuel flexibility, the system will use the waste gas, essentially as free fuel, a benefit that not only reduces emissions but also offers operational savings. Further, the added reliability, low emissions, and nominal maintenance requirements of microturbine-based rental systems make them an ideal solution for remote locations, which can be hard to reach and often deal with challenging climate conditions.

Cryptocurrency mining is the process by which new crypto “coins” are entered into circulation. Their production requires highly sophisticated computers, often in a data center, to solve complex computational math problems. By their very nature, data centers require tremendous amounts of electricity. At a time when the utility grid is strained due to extreme weather, aging infrastructure, and inadequate transmission, on-site power provides a resilient, cost-effective alternative for energy-intensive facilities.

By offering customers Energy as a Service, Capstone Green Energy is strengthening its commitment to creating smarter energy for a cleaner future, as carbon reduction continues to have ever-increasing value to global customers.

About Capstone Green Energy

Capstone Green Energy (www.CapstoneGreenEnergy.com) (NASDAQ: CGRN) is a leading provider of customized microgrid solutions and on-site energy technology systems focused on helping customers around the globe meet their environmental, energy savings, and resiliency goals. Capstone Green Energy focuses on four key business lines. Through its Energy as a Service (EaaS) business, it offers rental solutions utilizing its microturbine energy systems and battery storage systems, comprehensive Factory Protection Plan (FPP) service contracts that guarantee life-cycle costs, as well as aftermarket parts. Energy Conversion Products are driven by the Company’s industry-leading, highly efficient, low-emission, resilient microturbine energy systems offering scalable solutions in addition to a broad range of customer-tailored solutions, including hybrid energy systems and larger frame industrial turbines. The Energy Storage Products business line designs and installs microgrid storage systems creating customized solutions using a combination of battery technologies and monitoring software. Through Hydrogen Energy Solutions, Capstone Green Energy offers customers a variety of hydrogen products, including the Company’s microturbine energy systems.

For customers with limited capital or short-term needs, Capstone offers rental systems; for more information, contact: rentals@CGRNenergy.com. To date, Capstone has shipped over 10,000 units to 83 countries and estimates that, in FY21, it saved customers over $217 million in annual energy costs and approximately 397,000 tons of carbon. Total savings over the last three years are estimated at 1,115,100 tons of carbon and $698 million in annual energy savings.

For more information about the Company, please visit: www.CapstoneGreenEnergy.com. Follow Capstone Green Energy on Twitter, LinkedIn, Instagram, Facebook, and YouTube.

Cautionary Note Regarding Forward-Looking Statements

This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding expectations for green initiatives and execution on the Company’s growth strategy and other statements regarding the Company’s expectations, beliefs, plans, intentions, and strategies. The Company has tried to identify these forward-looking statements by using words such as “expect,” “anticipate,” “believe,” “could,” “should,” “estimate,” “intend,” “may,” “will,” “plan,” “goal” and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, but not limited to, the following: the ongoing effects of the COVID-19 pandemic; the availability of credit and compliance with the agreements governing the Company’s indebtedness; the Company’s ability to develop new products and enhance existing products; product quality issues, including the adequacy of reserves therefor and warranty cost exposure; intense competition; financial performance of the oil and natural gas industry and other general business, industry and economic conditions; the Company’s ability to adequately protect its intellectual property rights; and the impact of pending or threatened litigation. For a detailed discussion of factors that could affect the Company’s future operating results, please see the Company’s filings with the Securities and Exchange Commission, including the disclosures under “Risk Factors” in those filings. Except as expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events or for any other reason.

Capstone Green Energy
Investor and investment media inquiries:
818-407-3628
ir@CGRNenergy.com

Source: Capstone Green Energy Corporation

 

Capstone Green Energy Announces New 4 MW, Two-Year EaaS Contract – Plans to Expand Rental Fleet to 21.1 MW by March 31, 2022

 

Remote Data Center Located on Oil & Gas Well Handles Cryptocurrency Mining

VAN NUYS, Calif.–(BUSINESS WIRE)– Capstone Green Energy Corporation (www.CapstoneGreenEnergy.com) (NASDAQ: CGRN) (“Capstone,” the “Company,” “we” or “us”), a global leader in carbon reduction and on-site resilient green energy as a service (EaaS) solutions, announced today that it has entered into a 4 megawatt (MW), two-year, long-term rental contract with a new end-use customer in the cryptocurrency mining space. The new two-year contract represents another 4 MW of clean Energy as a Service (EaaS) rental systems, and continues Capstone Green Energy’s expansion of its current long-term rental fleet to 21.1 MW by March 31, 2022.

“Capstone continues to expand its EaaS business, including its long-term rental program. This is an important element in achieving our near-term profitability goals as rentals generate higher contribution margin rates than traditional product sales,” said Darren Jamison, President and Chief Executive Officer of Capstone Green Energy. “With this new 4 MW, long-term contract and the existing pipeline of rental projects, we expect to reach our goal of a 21.1 MW rental fleet by March 31, 2022,” concluded Mr. Jamison.

Located on an oil and gas well, this remote data center handles large volume, blockchain and cryptocurrency mining. The customer approached Capstone looking for an innovative way to take advantage of their existing on-site associated production gas, a byproduct that would otherwise be released into the atmosphere.

Because Capstone microturbines are designed to offer fuel flexibility, the system will use the waste gas, essentially as free fuel, a benefit that not only reduces emissions but also offers operational savings. Further, the added reliability, low emissions, and nominal maintenance requirements of microturbine-based rental systems make them an ideal solution for remote locations, which can be hard to reach and often deal with challenging climate conditions.

Cryptocurrency mining is the process by which new crypto “coins” are entered into circulation. Their production requires highly sophisticated computers, often in a data center, to solve complex computational math problems. By their very nature, data centers require tremendous amounts of electricity. At a time when the utility grid is strained due to extreme weather, aging infrastructure, and inadequate transmission, on-site power provides a resilient, cost-effective alternative for energy-intensive facilities.

By offering customers Energy as a Service, Capstone Green Energy is strengthening its commitment to creating smarter energy for a cleaner future, as carbon reduction continues to have ever-increasing value to global customers.

About Capstone Green Energy

Capstone Green Energy (www.CapstoneGreenEnergy.com) (NASDAQ: CGRN) is a leading provider of customized microgrid solutions and on-site energy technology systems focused on helping customers around the globe meet their environmental, energy savings, and resiliency goals. Capstone Green Energy focuses on four key business lines. Through its Energy as a Service (EaaS) business, it offers rental solutions utilizing its microturbine energy systems and battery storage systems, comprehensive Factory Protection Plan (FPP) service contracts that guarantee life-cycle costs, as well as aftermarket parts. Energy Conversion Products are driven by the Company’s industry-leading, highly efficient, low-emission, resilient microturbine energy systems offering scalable solutions in addition to a broad range of customer-tailored solutions, including hybrid energy systems and larger frame industrial turbines. The Energy Storage Products business line designs and installs microgrid storage systems creating customized solutions using a combination of battery technologies and monitoring software. Through Hydrogen Energy Solutions, Capstone Green Energy offers customers a variety of hydrogen products, including the Company’s microturbine energy systems.

For customers with limited capital or short-term needs, Capstone offers rental systems; for more information, contact: rentals@CGRNenergy.com. To date, Capstone has shipped over 10,000 units to 83 countries and estimates that, in FY21, it saved customers over $217 million in annual energy costs and approximately 397,000 tons of carbon. Total savings over the last three years are estimated at 1,115,100 tons of carbon and $698 million in annual energy savings.

For more information about the Company, please visit: www.CapstoneGreenEnergy.com. Follow Capstone Green Energy on Twitter, LinkedIn, Instagram, Facebook, and YouTube.

Cautionary Note Regarding Forward-Looking Statements

This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding expectations for green initiatives and execution on the Company’s growth strategy and other statements regarding the Company’s expectations, beliefs, plans, intentions, and strategies. The Company has tried to identify these forward-looking statements by using words such as “expect,” “anticipate,” “believe,” “could,” “should,” “estimate,” “intend,” “may,” “will,” “plan,” “goal” and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, but not limited to, the following: the ongoing effects of the COVID-19 pandemic; the availability of credit and compliance with the agreements governing the Company’s indebtedness; the Company’s ability to develop new products and enhance existing products; product quality issues, including the adequacy of reserves therefor and warranty cost exposure; intense competition; financial performance of the oil and natural gas industry and other general business, industry and economic conditions; the Company’s ability to adequately protect its intellectual property rights; and the impact of pending or threatened litigation. For a detailed discussion of factors that could affect the Company’s future operating results, please see the Company’s filings with the Securities and Exchange Commission, including the disclosures under “Risk Factors” in those filings. Except as expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events or for any other reason.

Capstone Green Energy
Investor and investment media inquiries:
818-407-3628
ir@CGRNenergy.com

Source: Capstone Green Energy Corporation

Indonesia Energy Closes Initial Tranche of $7.0 Million Private Placement

Research, News, and Market Data on Indonesia Energy

 

JAKARTA, INDONESIA and DANVILLE, CA / ACCESSWIRE / January 24, 2022 / Indonesia Energy Corporation (NYSE American:INDO) (“IEC”), an oil and gas exploration and production company focused on Indonesia, today announced the closing of the initial $5.0 million tranche of a total anticipated $7.0 million private placement with a single institutional investor.

The Company intends to use the net proceeds from the private placement for funding its previously announced oil well drilling program and for working capital general corporate purposes.

The investment is in the form of a senior convertible note which carries a 6.0% original issue discount, resulting in proceeds before expenses to IEC of approximately $4.7 million. The note has an 18-month maturity and a fixed conversion price of $6.00 per ordinary share for voluntary conversions of the note, subject to adjustment. Beginning four months following the closing of this initial tranche, IEC is required to make equal monthly installment payments of the note through the maturity date, which payments are payable in cash or ordinary shares of IEC (or a combination of cash and shares), with such shares being valued for each payment on the terms provided for under the note.

As part of the investment, the investor was also granted a five year warrant to purchase 383,620 ordinary shares at an exercise price of $6.00 per share, subject to adjustment.

IEC has agreed to file a registration statement registering for resale the ordinary shares issuable upon conversion of the note and upon exercise of the warrant. Upon the declaration of effectiveness of such registration statement, and subject to the satisfaction of certain conditions, a second tranche of funding will be provided by the investor in the principal amount of $2 million, less a 6% original issuance discount, resulting in proceeds before expenses to IEC of approximately $1.88 million. Such principal amount, if funded, will be added to the principal amount of the note, and the investor will be entitled to receive an additional warrant (carrying the same terms as the initial warrant) to purchase 153,450 ordinary shares.

EF Hutton, division of Benchmark Investments, LLC, acted as exclusive placement agent for the private placement and received customary fees.

Additional information regarding this transaction will be provided in a Form 6-K to be filed by IEC with Securities and Exchange Commission.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Indonesia Energy Corporation Limited

Indonesia Energy Corporation Limited (NYSE American:INDO) is a publicly traded energy company engaged in the acquisition and development of strategic, high growth energy projects in Indonesia. IEC’s principal assets are its Kruh Block (63,000 acres) located onshore on the Island of Sumatra in Indonesia and its Citarum Block (1,000,000 acres) located onshore on the Island of Java in Indonesia. IEC is headquartered in Jakarta, Indonesia and has a representative office in Danville, California. For more information on IEC, please visit www.indo-energy.com.

Cautionary Statement Regarding Forward-Looking Statements

All statements in this press release of Indonesia Energy Corporation Limited (“IEC”) and its representatives and partners that are not based on historical fact are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Acts”). In particular, when used in the preceding discussion, the words “estimates,” “believes,” “hopes,” “expects,” “intends,” “on-track”, “plans,” “anticipates,” or “may,” and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Acts and are subject to the safe harbor created by the Acts. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. While management has based any forward-looking statements contained herein on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties, and other factors, many of which are outside of the IEC’s control, that could cause actual results (including, without limitation, whether the second tranche of the financing described herein actually occurs, or the results of IEC’s drilling program) to materially and adversely differ from such statements. Such risks, uncertainties, and other factors include, but are not necessarily limited to, those set forth in the Risk Factors section of the Company’s annual report on Form 20-F for the fiscal year ended December 31, 2020, filed on May 18, 2021, with the Securities and Exchange Commission (SEC). Copies are of such documents are available on the SEC’s website, www.sec.gov. IEC undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Company Contact:

Frank C. Ingriselli
President, Indonesia Energy Corporation Limited
Frank.Ingriselli@Indo-Energy.com

SOURCE: Indonesia Energy Corporation Limited

	Image Credit: Pixabay (Pexels)

A Growing Number of Analysts are Forecasting Triple Digit Oil Prices

 

International oil prices could soar to $150 a barrel during the first quarter of 2022 if an ongoing conflict between Russia and Ukraine causes supply problems. Respected analysts and economists are reworking their forecasts and building in the “what-if” scenario, related to Russia; this has caused even more experts to join Goldman and JP Morgan in calling for over $100 per barrel of oil.

JP Morgan is projecting $125 and as high as $150 according to a research note they released. The projection adds to the already 12% higher price than Brent Crude reached in January. Oil is currently trading near its seven-year highs as demand is running ahead of global production. Brent is trading in the mid-$80s per barrel.

Russia Potential

Sanctions from the West against Russia would reduce supply to Western European nations that rely on the country’s oil and exacerbate supply issues. Since late 2021, Russia is said to have been building up troops and artillery near Ukraine’s border. Russia has repeatedly claimed it’s not planning an invasion of its mineral-rich neighbor.

“The latest geopolitical tensions between Russia and Ukraine raise the risk of a material spike this quarter,” wrote JPMorgan economists Joseph Lupton and Bruce Kasman in their research note. “That this comes on the back of already elevated inflation—running at a multi-decade high last quarter—and a global economy that is being buffeted by yet another wave of the COVID-19 pandemic adds to the near-term fragility of what is otherwise a fundamentally strong recovery.”

If an adverse geopolitical event should unfold between Russia and Ukraine, JP Morgan envisions a “quick” surge in Brent Crude over one to two quarters to $150 a barrel.  The projection is based on an estimated “sharp” cut of 2.3 million barrels a day in oil output. This is approximately a 2% drop in total global supply.

Other Forecasts for Higher Oil

Triple-digit oil “is in the works” for the second quarter of 2022, according to Francisco Blanch, head of global commodities at Bank of America, who told this to Bloomberg. His reasoning is demand is recovering in a big way, while OPEC+ supply will start leveling off within the next two months. Blanch noted that it will be only Saudi Arabia and the UAE that can produce incremental barrels to add to the market.

Morgan Stanley is one of the most recent large Wall Street banks to revise its forecast to over $100 per barrel. The company expects oil prices to hit $100 per barrel in the second half of the year. The oil market is headed to a “triple deficit” of low inventories, low spare production capacity, and low investment, Morgan Stanley said in a note carried by Reuters.

Take-Away

The year began with a number of factors driving oil prices higher. These include OPEC+ producers regularly falling short of their targets, increasing demand as travel and commutes have caused gasoline demand to rise, and inventory drawdowns.  On top of this, there is the new threat of supply disruptions in Eastern Europe which could reduce available Brent by 2% of global output. Outright sanctions against Russia also create a scenario of reduced supply and strong upward pressure on oil prices.

Paul Hoffman

Managing Editor, Channelchek

 

Suggested Reading

Why Some Forecasters are Bullish on Oil in 2022

Natural Gas Protests in Kazakhstan May Impact Global Fuel Costs Across the Board

Is Thorium, Not Uranium the Future of Power Generation?

Industry Report – Energy Stocks Level out but Pricing is Still Attractive

 

Sources

https://www.reuters.com/business/jp-morgan-sees-opec-spare-capacity-falling-through-2022-2022-01-12/

https://www.macrobusiness.com.au/2022/01/the-ukraine-commodity-shock/

https://www.barchart.com/story/news/6992728/tight-physical-crude-market-points-to-higher-oil-prices

https://www.reuters.com/business/energy/oil-prices-could-hit-100-demand-outstrips-supply-analysts-say-2022-01-12/

https://markets.businessinsider.com/news/commodities/oil-price-outlook-russia-ukraine-tensions-150-per-barrel-supply-2022-1

 

Stay up to date. Follow us:

	Image Credit: Pixabay (Pexels)

A Growing Number of Analysts are Forecasting Triple Digit Oil Prices

 

International oil prices could soar to $150 a barrel during the first quarter of 2022 if an ongoing conflict between Russia and Ukraine causes supply problems. Respected analysts and economists are reworking their forecasts and building in the “what-if” scenario, related to Russia; this has caused even more experts to join Goldman and JP Morgan in calling for over $100 per barrel of oil.

JP Morgan is projecting $125 and as high as $150 according to a research note they released. The projection adds to the already 12% higher price than Brent Crude reached in January. Oil is currently trading near its seven-year highs as demand is running ahead of global production. Brent is trading in the mid-$80s per barrel.

Russia Potential

Sanctions from the West against Russia would reduce supply to Western European nations that rely on the country’s oil and exacerbate supply issues. Since late 2021, Russia is said to have been building up troops and artillery near Ukraine’s border. Russia has repeatedly claimed it’s not planning an invasion of its mineral-rich neighbor.

“The latest geopolitical tensions between Russia and Ukraine raise the risk of a material spike this quarter,” wrote JPMorgan economists Joseph Lupton and Bruce Kasman in their research note. “That this comes on the back of already elevated inflation—running at a multi-decade high last quarter—and a global economy that is being buffeted by yet another wave of the COVID-19 pandemic adds to the near-term fragility of what is otherwise a fundamentally strong recovery.”

If an adverse geopolitical event should unfold between Russia and Ukraine, JP Morgan envisions a “quick” surge in Brent Crude over one to two quarters to $150 a barrel.  The projection is based on an estimated “sharp” cut of 2.3 million barrels a day in oil output. This is approximately a 2% drop in total global supply.

Other Forecasts for Higher Oil

Triple-digit oil “is in the works” for the second quarter of 2022, according to Francisco Blanch, head of global commodities at Bank of America, who told this to Bloomberg. His reasoning is demand is recovering in a big way, while OPEC+ supply will start leveling off within the next two months. Blanch noted that it will be only Saudi Arabia and the UAE that can produce incremental barrels to add to the market.

Morgan Stanley is one of the most recent large Wall Street banks to revise its forecast to over $100 per barrel. The company expects oil prices to hit $100 per barrel in the second half of the year. The oil market is headed to a “triple deficit” of low inventories, low spare production capacity, and low investment, Morgan Stanley said in a note carried by Reuters.

Take-Away

The year began with a number of factors driving oil prices higher. These include OPEC+ producers regularly falling short of their targets, increasing demand as travel and commutes have caused gasoline demand to rise, and inventory drawdowns.  On top of this, there is the new threat of supply disruptions in Eastern Europe which could reduce available Brent by 2% of global output. Outright sanctions against Russia also create a scenario of reduced supply and strong upward pressure on oil prices.

Paul Hoffman

Managing Editor, Channelchek

 

Suggested Reading

Why Some Forecasters are Bullish on Oil in 2022

Natural Gas Protests in Kazakhstan May Impact Global Fuel Costs Across the Board

Is Thorium, Not Uranium the Future of Power Generation?

Industry Report – Energy Stocks Level out but Pricing is Still Attractive

 

Sources

https://www.reuters.com/business/jp-morgan-sees-opec-spare-capacity-falling-through-2022-2022-01-12/

https://www.macrobusiness.com.au/2022/01/the-ukraine-commodity-shock/

https://www.barchart.com/story/news/6992728/tight-physical-crude-market-points-to-higher-oil-prices

https://www.reuters.com/business/energy/oil-prices-could-hit-100-demand-outstrips-supply-analysts-say-2022-01-12/

https://markets.businessinsider.com/news/commodities/oil-price-outlook-russia-ukraine-tensions-150-per-barrel-supply-2022-1

 

Stay up to date. Follow us:

Indonesia Energy Closes Initial Tranche of $7.0 Million Private Placement

Research, News, and Market Data on Indonesia Energy

 

JAKARTA, INDONESIA and DANVILLE, CA / ACCESSWIRE / January 24, 2022 / Indonesia Energy Corporation (NYSE American:INDO) (“IEC”), an oil and gas exploration and production company focused on Indonesia, today announced the closing of the initial $5.0 million tranche of a total anticipated $7.0 million private placement with a single institutional investor.

The Company intends to use the net proceeds from the private placement for funding its previously announced oil well drilling program and for working capital general corporate purposes.

The investment is in the form of a senior convertible note which carries a 6.0% original issue discount, resulting in proceeds before expenses to IEC of approximately $4.7 million. The note has an 18-month maturity and a fixed conversion price of $6.00 per ordinary share for voluntary conversions of the note, subject to adjustment. Beginning four months following the closing of this initial tranche, IEC is required to make equal monthly installment payments of the note through the maturity date, which payments are payable in cash or ordinary shares of IEC (or a combination of cash and shares), with such shares being valued for each payment on the terms provided for under the note.

As part of the investment, the investor was also granted a five year warrant to purchase 383,620 ordinary shares at an exercise price of $6.00 per share, subject to adjustment.

IEC has agreed to file a registration statement registering for resale the ordinary shares issuable upon conversion of the note and upon exercise of the warrant. Upon the declaration of effectiveness of such registration statement, and subject to the satisfaction of certain conditions, a second tranche of funding will be provided by the investor in the principal amount of $2 million, less a 6% original issuance discount, resulting in proceeds before expenses to IEC of approximately $1.88 million. Such principal amount, if funded, will be added to the principal amount of the note, and the investor will be entitled to receive an additional warrant (carrying the same terms as the initial warrant) to purchase 153,450 ordinary shares.

EF Hutton, division of Benchmark Investments, LLC, acted as exclusive placement agent for the private placement and received customary fees.

Additional information regarding this transaction will be provided in a Form 6-K to be filed by IEC with Securities and Exchange Commission.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Indonesia Energy Corporation Limited

Indonesia Energy Corporation Limited (NYSE American:INDO) is a publicly traded energy company engaged in the acquisition and development of strategic, high growth energy projects in Indonesia. IEC’s principal assets are its Kruh Block (63,000 acres) located onshore on the Island of Sumatra in Indonesia and its Citarum Block (1,000,000 acres) located onshore on the Island of Java in Indonesia. IEC is headquartered in Jakarta, Indonesia and has a representative office in Danville, California. For more information on IEC, please visit www.indo-energy.com.

Cautionary Statement Regarding Forward-Looking Statements

All statements in this press release of Indonesia Energy Corporation Limited (“IEC”) and its representatives and partners that are not based on historical fact are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Acts”). In particular, when used in the preceding discussion, the words “estimates,” “believes,” “hopes,” “expects,” “intends,” “on-track”, “plans,” “anticipates,” or “may,” and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Acts and are subject to the safe harbor created by the Acts. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. While management has based any forward-looking statements contained herein on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties, and other factors, many of which are outside of the IEC’s control, that could cause actual results (including, without limitation, whether the second tranche of the financing described herein actually occurs, or the results of IEC’s drilling program) to materially and adversely differ from such statements. Such risks, uncertainties, and other factors include, but are not necessarily limited to, those set forth in the Risk Factors section of the Company’s annual report on Form 20-F for the fiscal year ended December 31, 2020, filed on May 18, 2021, with the Securities and Exchange Commission (SEC). Copies are of such documents are available on the SEC’s website, www.sec.gov. IEC undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Company Contact:

Frank C. Ingriselli
President, Indonesia Energy Corporation Limited
Frank.Ingriselli@Indo-Energy.com

SOURCE: Indonesia Energy Corporation Limited

 

Capstone Green Energy (NASDAQ:CGRN) Systems To Provide 3.4 MW of Power for Renewable Energy Operation in California

Research, News, and Market Data on Capstone Green Energy

 

3.4 MW Low Emission Energy System will Run on 100% Renewable Fuel.

VAN NUYS, CA / ACCESSWIRE / January 21, 2022 / Capstone Green Energy Corporation (www.CapstoneGreenEnergy.com) (NASDAQ:CGRN), (“Capstone,” the “Company,” “we” or “us”), a global leader in carbon reduction and on-site resilient green energy solutions, today announced that its West Coast distributor, Cal Microturbine, has secured a contract to provide a 3.4 MW microturbine based system for a renewable energy customer in southern California.

The system, which will be configured with three Capstone Green Energy C1000S Signature Series microturbines and one C400S Signature Series microturbine, will provide onsite power at the customer’s facility using 100% renewable fuel.

“This order is indicative of the shift we are seeing to more renewable fueled energy projects in recent years,” stated Jen Derstine, Vice President of Marketing and Distribution at Capstone Green Energy. “In fiscal 2019, renewables made up 7% of our overall business and in fiscal 2021 they made up 13% of our business. That should continue to grow based on incentives, access to renewable fuels and improvements in renewable energy technologies,” concluded Ms. Derstine.

The customer initially considered leveraging reciprocating engines for the project but ultimately selected Capstone Green Energy’s microturbines due to their best-in-class rating for low emissions and low life cycle costs.

“Capstone’s autonomous microturbine technology is an ideal fit for renewable fueled projects,” said Ryan Brown, Chief Executive Officer of Cal Microturbine. “The ultra-low emissions technology and low maintenance design allow our clients to execute on their green energy initiatives without the need for a costly onsite operator.”

“On an environmental scale, Capstone microturbines provide can be an important tool in the fight against climate change,” said Darren Jamison, Chief Executive Officer of Capstone Green Energy. “On a business strategy level, particularly for those businesses in California, our technology makes meeting air quality regulations significantly less complicated and less costly than many alternatives currently on the market,” Mr. Jamison concluded.

About Capstone Green Energy
Capstone Green Energy (www.CapstoneGreenEnergy.com) (NASDAQ:CGRN) is a leading provider of customized microgrid solutions and on-site energy technology systems focused on helping customers around the globe meet their environmental, energy savings, and resiliency goals. Capstone Green Energy focuses on four key business lines. Through its Energy as a Service (EaaS) business, it offers rental solutions utilizing its microturbine energy systems and battery storage systems, comprehensive Factory Protection Plan (FPP) service contracts that guarantee life-cycle costs, as well as aftermarket parts. Energy Generation Technologies (EGT) are driven by the Company’s industry-leading, highly efficient, low-emission, resilient microturbine energy systems offering scalable solutions in addition to a broad range of customer-tailored solutions, including hybrid energy systems and larger frame industrial turbines. The Energy Storage Solutions (ESS) business line designs and installs microgrid storage systems creating customized solutions using a combination of battery technologies and monitoring software. Through Hydrogen & Sustainable Products (H2S), Capstone Green Energy offers customers a variety of hydrogen products, including the Company’s microturbine energy systems.

For customers with limited capital or short-term needs, Capstone offers rental systems; for more information, contact: rentals@CGRNenergy.com. To date, Capstone has shipped over 10,000 units to 83 countries and estimates that, in FY21, it saved customers over $217 million in annual energy costs and approximately 397,000 tons of carbon. Total savings over the last three fiscal years are estimated to be approximately $698 million in energy savings and approximately 1,115,100 tons of carbon savings.

For more information about the Company, please visit www.CapstoneGreenEnergy.com. Follow Capstone Green Energy on Twitter, LinkedIn, Instagram, Facebook, and YouTube.

Cautionary Note Regarding Forward-Looking Statements
This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding expectations for green initiatives and execution on the Company’s growth strategy and other statements regarding the Company’s expectations, beliefs, plans, intentions, and strategies. The Company has tried to identify these forward-looking statements by using words such as “expect,” “anticipate,” “believe,” “could,” “should,” “estimate,” “intend,” “may,” “will,” “plan,” “goal” and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, but not limited to, the following: the ongoing effects of the COVID-19 pandemic; the availability of credit and compliance with the agreements governing the Company’s indebtedness; the Company’s ability to develop new products and enhance existing products; product quality issues, including the adequacy of reserves therefor and warranty cost exposure; intense competition; financial performance of the oil and natural gas industry and other general business, industry and economic conditions; the Company’s ability to adequately protect its intellectual property rights; and the impact of pending or threatened litigation. For a detailed discussion of factors that could affect the Company’s future operating results, please see the Company’s filings with the Securities and Exchange Commission, including the disclosures under “Risk Factors” in those filings. Except as expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events or for any other reason.

CONTACT:
Capstone Green Energy
Investor and investment media inquiries:
818-407-3628
ir@CGRNenergy.com

SOURCE: Capstone Green Energy Corporation